Chubu Electric Power Group Tax Policy
Chubu Electric Power Group Tax Policy, which is based on the Chubu Electric Power Group Basic Corporate Governance Policy, is stated below.
The Chubu Electric Power Group are of the view that contributing to sustainable development of the nation and communities through fair and appropriate filing and payment of taxes is one of our important social responsibilities.
We comply with relevant laws, regulations, and other rules in all countries and regions where we do business.
So that tax governance functions properly, the Chubu Electric Power Group strives to enhance awareness of tax compliance among all our employees alongside the active involvement and leadership of top management. We also understand the importance of managing our tax affairs in a highly transparent manner. Our accounting and tax division develops regulations for proper accounting and tax treatment, provides consultations, verifies accounting and tax treatment appropriateness, and issues guidance. In addition, General Manager of Corporate Management Division (Chief Financial Officer), who is also a member of the Board of Directors, takes full responsibility for overseeing these operations and reports as necessary to the Board of Directors, Board of Auditors, and other executive committees on the status of these efforts and other matters.
Tax Risk Mitigation
In business dealings which may present a high tax risk, we conduct sufficient preliminary reviews, seek the advice of outside experts as necessary, and make every effort to reduce tax risks. In addition, we do not make use of low-tax countries with the intent of avoiding taxes.
Tax Cost Optimization
With a view toward maximizing shareholder value, the Chubu Electric Power Group strives to optimize tax payments through the proper and effective utilization of measures to reduce the tax burden to the extent which are not interpreted or applied in a manner that deviates from the intent of any laws, regulations, or other rules.
Relationship with Tax Authorities
The Chubu Electric Power Group makes every effort to provide appropriate information in response to inquiries by tax authorities as well as to maintain a good relationship through constructive dialogue. If a difference of opinion arises with tax authorities, we seek to actively hold a dialogue and make every effort to resolve any differences.